THE DAVIS COMPANIES EXECUTES NEW LEASES WITH GCS AND IHEARTMEDIA AT ONE CABOT ROAD IN MEDFORD
Recently transformed, transit-oriented office building with top-tier amenities and robust infrastructure inks 40,000-SF in new leases
Medford, MA – April 14, 2017 – Following The Davis Companies’ (TDC) transformation of One Cabot Road into a modern, amenity-filled office and R&D building with prime infrastructure to support a 24-hour operation, TDC has executed two new leases totaling 40,000-square-feet with Global Contact Services (GCS), a provider of professional contact centers, customer service and operational support, and iHeartMedia, Inc., one of the world’s leading media and entertainment companies. The four-story, 308,954-square-foot, transit-oriented property is walking distance to MBTA Wellington Station, providing quick access to Downtown Boston and Assembly Row via the Orange Line and building shuttle. Additionally, the property is five miles from Boston Logan International Airport, a 12-minute drive to both Cambridge and Boston, and offers an onsite parking ratio of more than three spaces per 1,000-square-feet. Tenants benefit from Medford’s growing retail and residential base that includes the AC Hotel by Marriott, Station Landing, Wegmans, numerous restaurants, and new apartment projects, as well as TDC’s significant capital improvements that bring more than 17,500-square-feet of top-tier amenities to the building.
Working with Margulies Perruzzi Architects, TDC repositioned One Cabot Road to offer a fully renovated, two-story lobby with networking and collaboration spaces; a re-energized 10,333-square-foot cafeteria, which TDC transformed into a fun, social environment; an updated fitness center with locker rooms and showers; a 10,000-square-foot outdoor patio with expansive views of Boston and Boston Harbor, comfortable year-round seating, a fire pit and game space, and additional visitor parking.
“The Medford market offers a strong value alternative to Boston and Cambridge. Our renovation of the building coupled with GCS and iHeartMedia’s selection of the location reflects the market’s maturation,” said The Davis Companies Senior Vice President Duncan Gilkey. “In addition to One Cabot Road’s direct access to transportation, and its cutting-edge amenities, the property’s infrastructure supports a 24-hour operation, and includes emergency back-up generator power for tenants’ lights and plugs. We are pleased to provide a reliable home base for around-the-clock businesses to be successful.”
“GCS’ move to One Cabot Road represents our growth and entry into the Massachusetts market. After an extensive review, we selected this building because of its proximity to transit, prime location, and outstanding amenities that are enhancing our employees’ work experience,” said GCS Chief Operating Officer Bryan Overcash. “We are extremely appreciative of The Davis Companies’ onsite property management team, led by Jason Biedrzycki and Joanne Austin, who continue to exceed our expectations.”
GCS was represented by CBRE’s Jon Freni and Robert Fitzgerald. iHeartMedia was represented by Cushman and Wakefield’s Christopher Walsh and Ted Lyon. Newmark Grubb Knight Frank Executive Managing Director Debra Gould, along with Phil Giunta, Juliette Reiter and Rory Walsh represent the building on behalf of The Davis Companies.
“One Cabot Road hits all the transportation check marks and is convenient for people living in Boston / Cambridge or around Route 128. Millennials who may prefer to live downtown can jump on the Orange Line and be at work at One Cabot Road in minutes,” said Newmark Grubb Knight Frank Executive Managing Director Debra Gould. “The Medford market continues to strengthen with increasing occupancy, and this building is an ideal fit for companies seeking a prime location, excellent onsite and area comforts for employees, and robust infrastructure that supports sophisticated research and development.”
One Cabot Road is also home to Expedient, Partners Healthcare and First Marblehead Corporation.
Outdated suburban office parks are on a repositioning streak to compete with downtown Boston office buildings, and TDC’s strategic focus on community, collaboration and conservation revamps such properties into vibrant, amenity-rich, live-work-play, urban-node locations. TDC has reimagined: The Center at Corporate Drive and 67 South Bedford Street, both in Burlington, MA; and the Union Trust Building in Pittsburgh, PA, to name just a few of the close to 100 repositioning projects that it’s completed in its 41-year history.
About The Davis Companies
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet across the Eastern United States.